R. TORO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
R. TORO
Largest movements
- Receivables within one year +€12,780
up €12,780 (+9.0%), from €141,364 to €154,145
- Tangible fixed assets -€7,889
down €7,889 (-7.4%), from €106,767 to €98,878
- Tax, wage and social debts +€12,350
new in 2025: €12,350
- Debts after one year -€10,728
down €10,728 (-11.9%), from €90,053 to €79,325
- Reserves -€9,969
down €9,969 (-16.0%), from €62,373 to €52,403
of which Distributable reserves: -€9,969
- Other debts +€9,007
up €9,007 (+10.5%), from €85,564 to €94,571
- Taxes +€12,350
up €12,350, from €0 to €12,350
- Gross operating margin +€2,727
up €2,727 (+56.5%), from €4,829 to €7,556
- Financial income +€805
up €805 (+10.5%), from €7,700 to €8,505
- Financial charges -€256
down €256 (-6.0%), from €4,258 to €4,002
- Other operating charges -€154
down €154 (-7.9%), from €1,943 to €1,789
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,151 | €284,043 | +€4,892 | +1.8% |
| Fixed assets | 21/28 | €137,767 | €129,878 | -€7,889 | -5.7% |
| Tangible fixed assets | 22/27 | €106,767 | €98,878 | -€7,889 | -7.4% |
| Land and buildings | 22 | €106,767 | €98,878 | -€7,889 | -7.4% |
| Financial fixed assets | 28 | €31,000 | €31,000 | = | 0.0% |
| Current assets | 29/58 | €141,384 | €154,165 | +€12,780 | +9.0% |
| Amounts receivable within one year | 40/41 | €141,364 | €154,145 | +€12,780 | +9.0% |
| Other amounts receivable | 41 | €141,364 | €154,145 | +€12,780 | +9.0% |
| Current investments | 50/53 | €20 | €20 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €279,151 | €284,043 | +€4,892 | +1.8% |
| Equity | 10/15 | €75,073 | €65,103 | -€9,969 | -13.3% |
| Contributions | 10/11 | €12,700 | €12,700 | = | 0.0% |
| Reserves | 13 | €62,373 | €52,403 | -€9,969 | -16.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €48,513 | €38,543 | -€9,969 | -20.5% |
| Amounts payable | 17/49 | €204,078 | €218,939 | +€14,861 | +7.3% |
| Amounts payable after more than one year | 17 | €90,053 | €79,325 | -€10,728 | -11.9% |
| Financial debts | 170/4 | €90,053 | €79,325 | -€10,728 | -11.9% |
| Amounts payable within one year | 42/48 | €112,319 | €137,144 | +€24,825 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €10,501 | €10,728 | +€227 | +2.2% |
| Financial debts | 43 | €8,603 | €9,977 | +€1,374 | +16.0% |
| Credit institutions | 430/8 | €8,603 | €9,977 | +€1,374 | +16.0% |
| Trade debts | 44 | €7,651 | €9,518 | +€1,867 | +24.4% |
| Suppliers | 440/4 | €7,651 | €9,518 | +€1,867 | +24.4% |
| Taxes, remuneration and social security | 45 | - | €12,350 | +€12,350 | |
| Taxes | 450/3 | - | €12,350 | +€12,350 | |
| Other amounts payable | 47/48 | €85,564 | €94,571 | +€9,007 | +10.5% |
| Accrued charges and deferred income | 492/3 | €1,706 | €2,470 | +€764 | +44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,889 | €7,889 | = | 0.0% |
| Other operating charges | 640/8 | €1,943 | €1,789 | -€154 | -7.9% |
| Gross operating margin | 9900 | €4,829 | €7,556 | +€2,727 | +56.5% |
| Operating profit (loss) | 9901 | -€5,003 | -€2,122 | +€2,881 | +57.6% |
| Financial income | 75/76B | €7,700 | €8,505 | +€805 | +10.5% |
| Recurring financial income | 75 | €7,700 | €8,505 | +€805 | +10.5% |
| Financial charges | 65/66B | €4,258 | €4,002 | -€256 | -6.0% |
| Recurring financial charges | 65 | €4,258 | €4,002 | -€256 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,561 | €2,381 | +€3,942 | |
| Income taxes | 67/77 | €0 | €12,350 | +€12,350 | |
| Profit (loss) for the period | 9904 | -€1,561 | -€9,969 | -€8,408 | -538.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,561 | -€9,969 | -€8,408 | -538.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.